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Tuesday, 10 February 2015

Greece and Syriza had a choice - and they are going the wrong direction

Austerity measures that were a condition of the original bailout are being scrapped. The Greek debt is 175% of GDP and the solution by Greek PM Tsipras is to increase wages, order reinstatement of public sector employees and demand WW2 reparations from Germany / forced loans Greece made to the Nazis. This is going to end very badly. I am afraid I am with Mrs Merkel. If Greece wants to solve its problems it has to take action to cut public sector spending and boost the private sector. Other countries are doing this - see the example of Ireland. So are we in the UK. Fuller details on the story here:http://www.bbc.co.uk/news/world-europe-31261475